Simpson Corporation has the following information as of December 31, the end of its fiscal year:     Purchases Discounts $     2,850 Merchandise Inventory, December 31 78,651 Purchases 25,653 Merchandise...

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Simpson Corporation has the following information as of December 31, the end of its fiscal year:

 

 

Purchases Discounts

$     2,850

Merchandise Inventory, December 31

78,651

Purchases

25,653

Merchandise Inventory, January 1

82,580

Purchases Returns and Allowances

3,270

Freight In

10,326


Instructions:

Using the information presented above, prepare the Cost of Goods Sold section of the income statement.

Make an EXCEL file to turn in your work.

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